The United States Securities and Exchange Commission (SEC) has rejected Coinbase’s request for an interlocutory appeal in their ongoing legal dispute, citing manipulation of the appeal’s question to fit legal criteria under 28 U.S.C. § 1292(b). The SEC articulated this in a filing with the U.S. District Court for the Southern District of New York on May 10, stating, “Coinbase’s attempts to manipulate the question for appeal to shoehorn it into a certifiable question under 28 U.S.C. § 1292(b) are self-defeating.” The core of the dispute revolves around Coinbase’s dissatisfaction with the Howey test, which the SEC uses to determine